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Characteristics of unemployment dynamics : the chain reaction approach

Karanassou, Marika; Snower, Dennis J. - 2000

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting lagged adjustment processes. In the context of...

Persistent link: https://www.econbiz.de/10011325992

An incentive theory of matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009

; employment ; quits ; firing ; job offers ; job acceptance …

Persistent link: https://www.econbiz.de/10003832116

The evolution of inflation and unemployment : explaining the roaring nineties

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2007

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a phenomenon arising from the interplay between growth and frictions. In particular, we examine the interaction between money growth (on the one hand) and various real and nominal...

Persistent link: https://www.econbiz.de/10003586564

A reappraisal of the inflation-unemployment tradeoff

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...

Persistent link: https://www.econbiz.de/10011414902

Causes of changing earnings inequality

Snower, Dennis J. - 1999

This paper surveys major empirical regularities concerning changes in earnings inequality in Europe and the U.S. over the past 25 years. Next, it indicates which of these regularities can be explained within the competitive demand-supply framework of analysis and what is left unexplained....

Persistent link: https://www.econbiz.de/10011294713

The minimum wage from a two-sided perspective

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2014

This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective … incentives and increase job acceptance incentives. We show that sufficiently low minimum wages may do no harm to employment …

Persistent link: https://www.econbiz.de/10010369825

Can insider power affect employment?

Díaz-Vázquez, Pilar; Snower, Dennis J. - 2002

Do firms reduce employment when their insiders (established, incumbent employees) claim higher wages? The conventional … answer in the theoretical literature is that insider power has no influence on employment, provided that the newly hired … firming in recessions, while leaving hiring in booms unchanged. Thereby insider power reduces average employment. …

Persistent link: https://www.econbiz.de/10011411604

Unemployment invariance

Karanassou, Marika; Snower, Dennis J. - 2002

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor force. Using Solow growth and endogenous growth...

Persistent link: https://www.econbiz.de/10011412072

Unemployment in the European Union : a dynamic reappraisal

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...

Persistent link: https://www.econbiz.de/10011412080

From unemployment benefits to unemployment accounts

Orszag, Jonathan Michael; Snower, Dennis J. - 2002

We explore the implications of replacing current unemployment benefit (UB) systems by unemployment accounts (UA). Under the UA system, employed people would be required to make ongoing contributions to their unemployment accounts, and the balances in these accounts would then be available to...

Persistent link: https://www.econbiz.de/10011412084